Compass Minerals to Increase Prices on Magnesium Chloride-Based Roadway Maintenance Products
North American Salt Company and Sifto Canada Corp., subsidiaries of Compass Minerals (NYSE: CMP), will increase prices on liquid magnesium chloride-based roadway maintenance products by an average of $6 per short ton, or 15 percent to 30 percent, effective with shipments to all U.S. and Canadian customers on August 1, 2008.
This pricing will apply to DustGard(R), the company’s all-natural soil stabilization product, and FreezGard(R), Compass Minerals’ premium highway deicing product. Both magnesium chloride-based products are produced at the company’s solar evaporation facility in Ogden, Utah. This price increase will help offset rising transportation costs and support the company’s previously announced multi-phased investment plan to create additional production capacity.
About Compass Minerals
Based in the Kansas City metropolitan area, Compass Minerals is a leading producer of inorganic minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom, and produces and distributes consumer deicing and water conditioning products, ingredients used in consumer and commercial foods, specialty fertilizers, and products used in agriculture and other consumer and industrial applications. Compass Minerals also provides records management services to businesses throughout the U.K.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations and involve risks and uncertainties that could cause the Company’s actual results to differ materially. The differences could be caused by a number of factors including those factors identified in Compass Minerals International’s annual report on Form 10-K filed with the Securities and Exchange Commission on February 22, 2008. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments.